Conference Conclusions

The 2nd Conference on Power Options for the Eastern Mediterranean Region (POEM 2012) was successfully held on the 07-08 of October 2013 at the Hilton Hotel in Nicosia, Cyprus. The Conference, which was under the high patronage of His Excellency the President of the Republic of Cyprus Mr. Nicos Anastasiades, was co-organized by the Cyprus Employers and Industrialists Federation (OEB), the Electricity Authority of Cyprus (EAC), the research program STEP-EW, the Cross-border Cooperation Program Greece-Cyprus 2007-2013, the Structural Funds of Greece and Cyprus and was endorsed by the Cyprus Energy Regulatory Authority (CERA), the Natural Gas Public Company (DEFA), the Renewable Energy Sources (RES) and Energy Saving Special Fund, the Cyprus Institute (CyI), the University of Cyprus (UCY), the Cyprus University of Technology (CUT), the Cyprus Investment Promotion Agency (CIPA) and the AIMS Energy Journal. The Conference was attended by more than 150 participants representing the local and foreign press of the Region, the stakeholders of the political and energy field, the experts of the energy industry, engineers, economists, investors, academics, as well as oil and gas exploration stakeholders. In the Conference, representatives of the political parties of Cyprus have presented the views of their parties regarding Cyprus’s future energy strategy after the discovery of hydrocarbon resources in the Cyprus exclusive economic zone and the large integration of renewable energy sources (RES) in the Cyprus power generation system. All representatives agreed that Cyprus should proceed with the installation of a liquefaction plant as a primary target of Cyprus energy strategy and also, the establishment of a national council from energy experts and politicians for planning the future energy strategy for Cyprus.

As the Conference Chairman Prof. Andreas Poullikkas mentioned, during his welcome speech, the aim of the Conference was to investigate how the energy sector can contribute to the development of our island and help Cyprus to re-enter the international markets, having in mind the risks of the deep monetary and economic crisis in the Mediterranean region, the Arab Spring and the gas and oil discoveries which could destabilize the region. This is a perspective, which requires detailed investigation since the energy sector is expected to become the backbone of our economy promoting jobs, growth and sustainability. The Chairman, also, emphasized the need for the integration of a long-term energy strategy for Cyprus with a horizon of more that 50 years for the efficient management of our hydrocarbon reserves and the future penetration of renewable energy sources. This strategy should include a plan for the integration of electric cars up to 2020 or 2050, with detail planning for their connection points and incentives, the promotion of extensively use of solar heating, the integration of carbon capture and storage systems into our energy system and the independency from conventional fuels with the shift towards the hydrogen economy.

Concerning the exploitation of the hydrocarbon reserves, the Conference stressed that after the new political developments in the Mediterranean region and the expected decision of Israel regarding the exploitation of its own hydrocarbon reserves, it is necessary for our country to proceed with our own planning for the exploitation of ours hydrocarbon reserves. Finally, concerning the widespread integration of renewable energy sources, it was concluded that this should take into consideration the small and isolated Cyprus electricity generation system as well as the technical limitations and problems affecting the security and reliability of the current generation system.